In a revelation that blurs the line between luxury real estate and high-stakes concealment, Interior Secretary Jonvic Remulla disclosed on Tuesday that fugitive former lawmaker Zaldy Co is reportedly building a massive five-story basement in his Forbes Park mansion. The scale of the underground structure has raised significant red flags, with authorities suggesting its primary purpose may be the storage of illicit funds.
An “Unusual” Architectural Choice
While Forbes Park is known for its sprawling estates and opulent designs, a five-story basement is virtually unheard of for a private residence. Secretary Remulla pointed out that while building codes strictly regulate the height of structures through floor-to-area ratios (FAR), these regulations often overlook how deep a homeowner can dig into the earth.
“We always assume it is for parking,” Remulla stated, “but it is to our knowledge that it was going to be used for storage of money.” He explained the tactical logic behind the design: fire naturally moves upward. By placing a vault at the lowest point of the house, the contents remain shielded from heat and flame during a potential blaze.
Scrutiny Through Official Channels
The discovery was not the result of a covert operation but rather a review of the paper trail left behind by the construction project. The details emerged through Co’s applications filed with the Forbes Park Village Association and the Makati City Government.
According to Remulla, the blueprints submitted for building permits clearly indicate the five-level subterranean structure. “The only rational use for a 5-story basement is either a vehicle garage or money storage. It is very difficult to live in a basement,” Remulla noted, dismissing the idea that the space was intended for residential use.
A Mansion Frozen in Time
Construction on the Forbes Park property has reportedly ground to a halt following Co’s flight from the country. The former lawmaker became a fugitive after being accused of orchestrating massive budget insertions linked to flood control anomalies—ironic, considering the subterranean nature of his alleged vault.
As the government continues its investigation into Co’s financial dealings and whereabouts, the “Forbes Basement” stands as a physical symbol of the lengths to which individuals may go to protect ill-gotten wealth. The DILG’s focus now shifts to how such massive projects can be better regulated to prevent them from becoming “underground banks” for fugitives.